ScanSource, Inc. (NASDAQ:SCSC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 92.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,371 shares of the industrial products company's stock after selling 626,817 shares during the quarter. Victory Capital Management Inc. owned 0.21% of ScanSource worth $2,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCSC. Pacer Advisors Inc. increased its position in shares of ScanSource by 54.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company's stock worth $102,776,000 after purchasing an additional 815,240 shares during the last quarter. American Century Companies Inc. grew its position in ScanSource by 75.5% in the 2nd quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company's stock valued at $23,091,000 after acquiring an additional 224,160 shares in the last quarter. Millennium Management LLC grew its position in ScanSource by 2,640.7% in the 2nd quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company's stock valued at $6,038,000 after acquiring an additional 131,294 shares in the last quarter. Vanguard Group Inc. grew its position in ScanSource by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company's stock valued at $153,245,000 after acquiring an additional 40,264 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in ScanSource by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company's stock valued at $87,894,000 after acquiring an additional 39,533 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

ScanSource Stock Up 2.4 %

Shares of SCSC traded up $1.21 during midday trading on Monday, hitting $52.31. The company had a trading volume of 70,798 shares, compared to its average volume of 209,135. The company's 50-day simple moving average is $47.78 and its 200-day simple moving average is $47.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The firm has a market capitalization of $1.25 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.46 and a beta of 1.42. ScanSource, Inc. has a 1 year low of $31.01 and a 1 year high of $53.76.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. The firm had revenue of $775.58 million during the quarter, compared to analysts' expectations of $774.90 million. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The firm's revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 earnings per share. As a group, sell-side analysts expect that ScanSource, Inc. will post 3.51 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Raymond James cut ScanSource from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 15th.

Insider Buying and Selling

In other ScanSource news, CEO Michael L. Baur sold 8,312 shares of ScanSource stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total transaction of $407,121.76. Following the transaction, the chief executive officer now owns 177,760 shares of the company's stock, valued at $8,706,684.80. The trade was a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 53,010 shares of company stock worth $2,611,843 over the last 90 days. 4.20% of the stock is owned by insiders.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.